Hyzon Motors Appoints Shawn Yadon as President, Commerical

ROCHESTER, N.Y., June 29, 2022 /PRNewswire/ -- Hyzon Motors Inc. (NASDAQ: HYZN), today announced that Shawn Yadon has been appointed President, Commerical, effective July 1, 2022. Mr. Yadon will be responsible for commercialization of the North American market while supporting Hyzon's strategic position of the production and sales of our hydrogen fuel cell vehicles.

Mr. Yadon comes to Hyzon from the California Trucking Association (CTA), the largest statewide trucking association in the U.S., where he served as the CEO since 2014. In that role, Mr. Yadon has been an industry strategist, thought leader and ambassador for the trucking industry across the U.S. working directly with state legislators and regulators in California and beyond, the U.S. Congress, the Federal Motor Carrier Safety Administration (FMCSA), as well as the commercial trucking industry throughout the country as an industry leader and advocate.

Prior to his role as CEO at CTA, Mr. Yadon was the Vice President of Corporate Affairs in the Office of the CEO at Copart, Inc. (CPRT), a worldwide online remarketing leader with sales of over two million vehicles per year. Mr. Yadon spent 7 ½ years at Copart, and during his time there, also served as the company's principal government affairs officer.

A veteran of the corporate Government Affairs field, Mr. Yadon previously led E*TRADE Financial's State Government Affairs department and was the lead Government Affairs representative in the Western U.S. for FedEx as part of a 19-year career that also included leadership positions in ground and air ramp operations.

"I look forward to leading Hyzon Motors' commercial activities and advocating at all levels alongside the trucking industry for the governmental support, commitment, and investments necessary for Hyzon to optimize the deployment and delivery of cutting edge zero emission commercial vehicles in addition to essential hydrogen infrastructure requirements," said Mr. Yadon.

"As the momentum in North America continues to accelerate for zero emission commercial vehicles, we are excited to deepen our talent pool with the addition of Shawn. His extensive experience and relationships in the commercial trucking industry coupled with his advocacy and breadth of knowledge in government affairs positions Hyzon well to bring zero emission vehicles to fleet operators today," stated Craig Knight Hyzon Chief Executive Officer.

Hyzon is a global leader in fuel cell electric mobility, with US operations in the Rochester, Chicago and Detroit areas, and international operations in the Netherlands, China, Australia, and Germany. Hyzon is an energy transition accelerator and technology innovator, providing end-to-end solutions in the transport sector with a focus on commercial vehicles and hydrogen supply infrastructure. Utilizing its proven and proprietary hydrogen fuel cell technology, Hyzon aims to supply zero-emission heavy duty trucks and buses to customers in North America, Europe and around the world to mitigate emissions from diesel transportation, which is one of the single largest sources of carbon emissions globally. The Company is contributing to the escalating adoption of fuel cell electric vehicles through its demonstrated technology advantage, leading fuel cell performance and history of rapid innovation. Visit www.hyzonmotors.com.

This press release includes "forward-looking statements" within the meaning of Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended. All statements, other than statements of present or historical fact included in this press release, are forward-looking statements. When used in this press release, the words "could," "should," "will," "may," "believe," "anticipate," "intend," "estimate," "expect," "project," the negative of such terms and other similar expressions are intended to identify forward-looking statements, although not all forward-looking statements contain such identifying words. These forward-looking statements, including statements regarding expected revenues and gross margin for the 2021 fiscal year and expectations for the 2022 fiscal year, are based on management's current expectations and assumptions about future events and are based on currently available information as to the outcome and timing of future events. Except as otherwise required by applicable law, Hyzon disclaims any duty to update any forward -looking statements, all of which are expressly qualified by the statements in this section, to reflect events or circumstances after the date of this press release. Hyzon cautions you that these forward-looking statements are subject to numerous risks and uncertainties, most of which are difficult to predict and many of which are beyond the control of Hyzon, including risks and uncertainties described in the "Risk Factors" section of Hyzon's definitive proxy statement on Schedule 14A filed with the U.S. Securities and Exchange Commission (the "SEC") on June 21, 2021, our Registration Statement on Form S-1 filed with the SEC on July 30, 2021, our Form 10-K filed March 30, 2022, and other documents filed by Hyzon from time to time with the SEC. These filings identify and address other important risks and uncertainties that could cause actual events and results to differ materially from those contained in the forward-looking statements, such as risks related to (i) the ability to convert non-binding memoranda of understanding into binding orders or sales (including because of the current or prospective financial resources of the counterparties to Hyzon's non-binding memoranda of understanding and letters of intent), or(ii) the ability of counterparties to make payments to Hyzon with respect to their binding orders, (iii) the ability to identify additional potential customers and convert them to paying customers or (iv) disruptions to the global supply chain, including our third party suppliers and assemblers. Hyzon gives no assurance that Hyzon will achieve its expectations.

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